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Market commentary • Both old and new crop wheat futures closed up £0.25/t yesterday, at £191.35/t (May-21) and £159.60/t (Nov-21). UK markets followed the global market, with Paris and Chicago futures up 1.3% and 1.8% respectively.

The price of edible oil has risen in local markets amid stockpiling by large economies owing to the potential threat of a second wave of the coronavirus and a rising cost of all products worldwide, according to market players.

The price of oilseed rape has surged to a multi-year high as part of a wider upswing in the value of oil-based commodities, bringing some relief to growers after a tough season.

The USDA maintained its 2020-’21 forecast for soybean oil use in biodiesel production in its latest World Agricultural Supply and Demand Estimates report, released Nov. 10. The agency lowered its 2020-’21 projections for soybean production and ending stocks.

KUALA LUMPUR (Nov 11): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher for a third consecutive session, hitting its highest level in eight-and-a-half years, following upbeat sentiment in anticipation of lower production and depleting stockpile in the country.

Leading stock exchange NSE on Monday said it will launch its first agricultural commodity futures contract for crude degummed soybean oil on December 1.

KUALA LUMPUR: Palm oil exports rose 4 per cent month-on-month (mom) and 2 per cent year-on-year (yoy) to 1.67 million tonnes in October due mainly to stronger demand from India, Pakistan and the US.

Brazilian soybean production for the 2020-21 crop year (September-August) is estimated to hit an all-time high on higher acreage and productivity, Brazil’s national agricultural agency Companhia Nacional de Abastecimento (Conab) said Nov. 10, despite a late start to the planting process.

KUALA LUMPUR (Nov 10): Malaysia's palm oil inventories in October slumped to their lowest in more than three years, down 8.6% on-month, on lower production and as seasonal buying from key importer India lifted exports, according to an industry regulator on Tuesday.

KUALA LUMPUR: The global demand for palm oil is expected to contract by 4% or 3.2 million tonnes due to the impact from Covid-19, which has mainly affected the food sector, the Malaysian Palm Oil Council (MPOC) said today.

KUALA LUMPUR, Nov 10 (Reuters) - Malaysia’s palm oil inventories in October tumbled to their lowest since June 2017, contracting 8.6% from the month before to 1.57 million tonnes, according to industry regulator the Malaysian Palm Oil Board (MPOB) on Tuesday.

PETALING JAYA: A prolonged labour shortage in the oil palm plantations nationwide is expected to trigger a larger-than-expected drop in crude palm oil (CPO) output both this year and next year, say analysts.